Morning-OutlookNIFTY:

The Nifty opened at 14749.40 with a gap up of 53 points. The index recorded its intraday high near the opening tick and started drifting downwards. Prices have consolidated in the afternoon session after recording its intraday low at 14591.90. Finally, the index ended below 14700 at 14677.80 with a loss of just 18.70 points. All the sectoral indices have closed lower except FMCG which ended with a gain of more than 2%. Metal continued its underperformance and ended with a loss of 3.76%.

The Nifty swung between gains and losses in a volatile trading session. The index has support around 14400 and resistance around 15000. As mentioned earlier, A big trade will emerge on the breakout of these levels.

Buying opportunity will emerge if Nifty finds support around 14400 or if the index closes above 15000.

The long term trend continues sideways while long term momentum has reached within the strength zone.

BANK NIFTY:

Bank Nifty opened at 32495.16 with a minor gap up. The index recorded its intraday high at 32622.65 in the first give minutes of trading and then started moving down. Prices continued that momentum for the whole day and closed lower at 32169. PSU and Private Banks both have seen a decline and closed lower by 2.03% and 0.86 % respectively. Within the index, ICICI Bank contributed highest while HDFC Bank the lowest.

Bank Nifty continued recorded a trend day on the downside and ended near 32000 support. A trading range with support around 32000 and resistance around 33500 remained intact. A close below this range may lead to another decline of 1500 points towards the next support at 30000

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TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
ITC 212.25 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 209 and for the target 217
LT 1415.50 BUY The stock has given a breakout from a narrow trading range. The stock can be bought at CMP with a stop at 1395 and for the target 1440

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DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
NESTLE 17200 CE BUY 320 CMP 200 500 OI increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
PIIND.21.05 May 2709.05 0.99 28.92 454750 FINNIFTYW.21.05 May 15425.25 -0.73 75 840
BERGEPAINT.21.05 May 753.05 2.45 11.98 3454000 PIDILITIND.21.05 May 1873.05 -0.41 29.55 2518500
ASIANPAINT.21.05 May 2783.05 8.71 11.06 5430600 APOLLOTYRE.21.05 May 208.5 -6.14 19.53 21632500
UPL.21.05 May 745.05 7.61 9.99 21526700 ESCORTS.21.05 May 1154.95 -1.52 19.25 3318150
CIPLA.21.05 May 906.5 0.68 7.97 18112250 BANKNIFTY.21.05 May 32202.9 -0.98 13.34 1536950
                                                                        Short Covering Long Unwinding
Stocks Price Price% OI% OI Stocks Price Price % OI % OI
VOLTAS.21.05 May 1002.65 3.08 -12.22 3384500 BHEL.21.05 May 68.15 -4.95 -11.39 94972500
CHOLAFIN.21.05 May 527 0.65 -10.47 6341250 CADILAHC.21.05 May 619 -4.8 -7.69 21549000
BIOCON.21.05 May 390.6 0.89 -5.81 18857700 PVR.21.05 May 1162.2 -1.81 -5.93 1561659
BRITANNIA.21.05 May 3509.7 2.24 -4.85 1672000 CONCOR.21.05 May 572.65 -4.53 -5.62 6694329
ITC.21.05 May 213.85 4.7 -3.14 94755200 ONGC.21.05 May 113.35 -1.86 -3.24 44552200

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TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Tata Consultancy Serv Lt 3051.5 -1.17 2043935 1219688 61.65 Nifty Fmcg 34781.5 2.13 101700
Nestleind 17224.15 3.03 96582 35129 57.99 Nifty 50 14677.8 -0.13 101700
Hindustan Unilever Ltd 2376.85 2.06 1388970 1186246 57.75 Nifty Energy 18652.95 -0.34 101700
Hdfc Bank Ltd. 1386.85 -0.9 5302071 3933052 57.1 Nifty Bank 32169.55 -0.87 101700
Infosys Limited 1316.4 -0.8 4824609 2933912 55.97 Nifty it 25588.2 -1.03 101700
Sbi Life Insurance Compa 978.4 0.57 1331063 1958021 55.73 Nifty Pharma 13885.5 -1.28 101700
Piind 2697.45 0.7 788764 124438 54.2 Nifty Media 1604.35 -1.56 101700
Kotak Mahindra Bank Limi 1706.65 -0.71 2937892 1713315 53.85 Nifty Auto 9810.45 -2.03 101700
Bajaj Auto Limited 3848.8 -0.68 481619 268416 53.7 Nifty Realty 300.45 -3.19 101700
Icici Prudential Life In 560.15 0.75 2324690 1112227 53.27 Nifty Metal 5091.35 -3.76 101700

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR:  WPI Inflation (YoY) (Apr) on 17th  May, 2021 •USD:  Building Permits (Apr) on 18th May, 2021

•USD : Crude Oil Inventories on 19th May, 2021

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NEWS UPDATES

•Larsen & Toubro Ltd.’s fourth-quarter profit rose beating estimates as its order flow remained higher than its quarterly average. Net profit of India’s largest engineering-to-construction company increased 24.8% over last year to Rs 3,281 crore in the quarter ended March, it said in its exchange filings. That compares with the Bloomberg consensus estimate of Rs 3,043 crore. Revenue rose 8.7% over last year to Rs 48,087.9 crore, compared with the consensus estimate of Rs 48,602 crore. The company received fresh orders worth Rs 50,651 crore in the fourth quarter.

•Maruti Suzuki India Ltd (MSIL), the country’s largest passenger vehicle manufacturer, might report a swift recovery in volumes and operating margins in the second half of this fiscal year when the explosive rise in cases of covid-19 infections is expected to abate. Continued shift towards personal mobility, introduction of new products and a faster recovery in rural areas might fuel the recovery, according to analysts of brokerage firms.

•Cipla Ltd.’s quarterly profit fell, missing estimates. The drugmaker’s net profit fell 45% quarter-on-quarter to Rs 413.38 crore in the quarter ended March. Analysts compiled by Bloomberg had estimated the metric at Rs 621.3 crore. Revenue fell 11% sequentially to Rs 4,606.45 crore, compared with the Rs 4,999.3-crore estimate.

•Net profit of Just Dial declined 55.87% to Rs 33.57 crore in the quarter ended March 2021 as against Rs 76.07 crore during the previous quarter ended March 2020. Sales declined 25.23% to Rs 175.68 crore in the quarter ended March 2021 as against Rs 234.95 crore during the previous quarter ended March 2020.

•Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
3IINFOTECH Audited Results 17-May-21 GRSE Final Dividend;Audited Results 17-May-21
ASITCFIN Audited Results 17-May-21 ICIL Final Dividend;Audited Results 17-May-21
ATVPR A.G.M.;Audited Results 17-May-21 MRPL Audited Results 17-May-21
BHARTIARTL Audited Results 17-May-21 ORIENTCEM Final Dividend;Audited Results 17-May-21
BUTTERFLY Audited Results 17-May-21 RBL Dividend;Audited Results 17-May-21
COLPAL Audited Results 17-May-21 SHAKTIPUMP Quarterly Results;Dividend 17-May-21
CYBELEIND General 17-May-21 SPARC Audited Results 17-May-21
FEDERALBNK Final Dividend;Audited Results 17-May-21 SUBEX Final Dividend;Audited Results 17-May-21
GLAND Audited Results 17-May-21 SURAJLTD Audited Results 17-May-21
GNFC Dividend;Audited Results 17-May-21 SVGLOBAL General 17-May-21
GOKULAGRO Audited Results 17-May-21 WABCOINDIA Final Dividend;Audited Results 17-May-21

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
OFSS 17-May-21 Interim Dividend – Rs. – 200.00 VISAKAIND 18-May-21 Final Dividend – Rs. – 10.00
CAPPL 18-May-21 Interim Dividend – Rs. – 1.50 GCCLINP 19-May-21 E.G.M.
COFORGE 18-May-21 Interim Dividend – Rs. – 13.00 IRBINVIT 19-May-21 Income Distribution (InvIT)
MEGH 18-May-21 Amalgamation POWERINDIA 19-May-21 Dividend – Rs. – 2.00
MEGH 18-May-21 Spin Off GREENCREST 20-May-21 Consolidation of Shares
SUNDRMFAST 18-May-21 Interim Dividend – Rs. – 3.40 IRCON 20-May-21 Bonus issue 1:1

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